M
MrsJ
Guest
Hi there,
We're just in the process of buying our first house, and I'm trying to get the best deal from Bank of Ireland on the mortgage.
The thing is, they are offering a much reduced rate for the first year, but it then rolls to the standard variable rate. If we want to opt for the 125 tracker we won't get quite the same low rate for the first year, and if we want to go with the 110 tracker we have to go with the full rate from day one.
So, should we go ahead and sign the offer letter for the much reduced rate, and then change from the standard variable rate to a tracker rate towards the end of the first year? Is it probable that banks in general, and Bank of Ireland in particular, will be offering the same type of tracker rates a year from now?
All advice appreciated!
We're just in the process of buying our first house, and I'm trying to get the best deal from Bank of Ireland on the mortgage.
The thing is, they are offering a much reduced rate for the first year, but it then rolls to the standard variable rate. If we want to opt for the 125 tracker we won't get quite the same low rate for the first year, and if we want to go with the 110 tracker we have to go with the full rate from day one.
So, should we go ahead and sign the offer letter for the much reduced rate, and then change from the standard variable rate to a tracker rate towards the end of the first year? Is it probable that banks in general, and Bank of Ireland in particular, will be offering the same type of tracker rates a year from now?
All advice appreciated!